Mumbai: Leading private sector bank in the country, HDFC Bank has revised the fixed deposit interest rates. The new revised rates are applicable to non-withdrawable fixed deposits worth more than or equivalent to Rs 5 crore.
The interest rate of fixed deposits of Rs 5 crore to Rs 200 crore with a tenure between 3 to 10 year will be 4.70%. The interest rate of fixed deposits of Rs 5 crore to Rs 200 crore with a tenure between 2 year to less than 3 year will be 4.60%. Fixed depositors with HDFC Bank can earn 4.55% on terms ranging from one year to less than two years. The interest rate will be 4.15% to fixed deposits for a period of more than 9 months but less than one year. The bank will offer a 4% interest rate on deposits with terms of six months to nine months.
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Those who have this amount in non-redeemable fixed deposits at HDFC Bank for a period of 91 days to less than 6 months would receive interest rate of 3.75%.
Non-withdrawal fixed deposits are different from regular fixed deposits. These fixed deposits, cannot be closed by the depositor before expiry of the term of such deposit. In the event of premature withdrawal of these deposits, the Bank will not pay any interest on the principal amount of the deposit. Any interest credited or paid up to the date of such premature closure will be recovered from the deposits.
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